Handle Your Online Store Payments the Right Way

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Having an online store is exciting, but if you want to boost sales and customer loyalty, it is imperative that you provide a seamless payment system. The goal is to make it easy for your customers to pay quickly, preventing them from having time to rethink their purchase. Not only that, but to succeed online, you need to a way of tracking your sales and managing your finances.

Before integrating any payment system into your e-commerce store, you want 100 percent assurance that you have full control of the process from start to finish. Fortunately, you can accomplish that goal by handling the payments in your online store correctly.

Several Payment Options

A common mistake that some online merchants make is only providing their customers with one payment method. Remember, not everyone uses the same platform, so it is imperative that you give them several options. Along with buying your product with a debit or credit card, you should research systems that work, like a digital wallet and person-to-person gateways. That flexibility will go a long way in helping you succeed.

Instead of setting up just any payment systems, determine first the ones your customers prefer to use. For instance, when conducting business with people in different countries, Ozan is an excellent choice. Not only can your customers complete payment transactions, but this system also converts several currencies and allows them to keep several financial accounts in one location. Skrill is another superior choice for completing international transactions.

On the other hand, if your target audience consists primarily of millennials, then PayPal and Google Wallet are the better options. Obviously, you cannot implement every online payment system, but what you can do is identify the ones that are relevant to your customers. Regardless of what you select, make sure they are safe and reliable so that your target audience feels confident buying from your site.

Opt-In Registration Process

In addition to giving your customers more than one payment method, be sure they can complete online purchases without going through the registration process. Sure, getting people to register to a site helps merchants with marketing and advertising, but for shoppers, it is usually an annoyance. One of the main reasons so many people buy online is because they are in a hurry. Therefore, if they get slowed down due to a mandated registration process, you will likely lose them as customers.

One study conducted by Smashing Magazine showed that most customers view registration as an unnecessary action. In place of that, create a guest checkout. That way, people can come to your website, add items to the shopping cart, and check out quickly without registering.

Redirects for Payments

Also, you never want to have your site redirect your customers to an outside source for paying for the goods in the shopping cart. Just as with the registration process, this annoys people, which, in turn, can cause you to lose good customers. Although PayPal is an excellent system, using it as a payment method on your e-commerce site can hurt your business. Especially for people with little knowledge of how PayPal or digital wallets works, getting redirected to another site makes them nervous.

PayPal has been around for a long time, and it remains a popular choice for many large companies, including Walmart. However, because it involves redirecting buyers, you should choose a payment system that keeps your customers on your page. 1ShoppingCart.com is an excellent solution. With this platform, your customers can use different types of payments, including PayPal, without getting redirected.

Integrating every digital wallet into a shopping cart platform is impossible. However, experts predict that could change relatively soon. As demand increases, a growing number of online merchants will begin to accept these payment options. Not only are they convenient, but they also increase the potential for more conversions.

Visible Privacy and Security Policy

A lack of security is the most significant concern that consumers have about buying online. Therefore, you need to make sure your customers know that your website and their transaction is secure. With so many data breaches lately, this has become even more critical than before.

For one thing, instead of http:// in your URL address, make sure it begins with https://. Also create a visible link to your privacy and security policy. That way, consumers can click through to get pertinent information as to the type and degree of security you provide. The number of concerns about proper protection has increased substantially. In fact, as much as 58 percent of buyers abandon items in their shopping cart, according to a survey by eConsultancy.

To give your customers complete peace of mind, include in your privacy and security policy what you do with the personal information they provide. Along with disclosing that you share information with third parties, you need to let people know what type of analytics software you use for website traffic, abandoned shopping carts, conversion rates, and so on.

Seamless Checkout Process

Another goal as an online merchant is to provide your customers with a seamless checkout process. Keep in mind that the design of your site and the navigation of your store help build trust. Ultimately, it is imperative that you maintain a consistent rapport once a consumer reaches the checkout page.

Following is the standard process for completing transactions on an e-commerce site:

  • Consumers browse a website at a time most convenient to their schedule.
  • The customer reads product descriptions.
  • After identifying items of interest, the customer adds them to the shopping cart.
  • For shipping, the customer next specifies the destination address.
  • The customer then enters information based on the preferred payment method.
  • After submitting the order, the customer receives notification of transaction approval.
  • The items purchased get shipped to the address designated by the customer.

While going through each of these steps, your customers want and deserve to have a seamless experience. If something goes wrong, perhaps the individual gets prompted to enter the payment information twice, that immediately throws up a red flag. Although nothing is wrong, from the customer’s perspective, it raises concerns. To feel confident about the purchase, the buyer may call your business phone number, which devalues the online buying experience because it wastes both that person’s and the merchant’s time.

As a merchant, you always want to relay the transaction details to every customer. To make that process easy, you can utilize an e-commerce platform called WooCommerce. Compatible with several payment gateways, your customers can have a flawless buying experience without getting redirected to a different website.

Summary

The way that payments get handled on your e-commerce website will affect the user’s experience and your business. Therefore, provide your customers with several viable payment methods that do not redirect. Also, be careful about asking for too much information, and always make the link to your privacy and security policy visible. Then, your customers will trust your site and, therefore, willingly tell others about it and return to make additional purchases.